Bitcoin is at a very critical point, if the downtrendline is broken, its target can be 42K. If it cannot break the trendline and continues in the downtrend, its first goal could be 35K
To draw this analysis, first I determined the trend, then I drew the Fibonacci circle of the trend, after determining the angle of the trend, I drew the trendline and the resistance channel (blue), and finally I determined the support (red) and resistance (purple) levels.
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DISCLAIMER: This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
To draw this analysis, first I determined the trend, then I drew the Fibonacci circle of the trend, after determining the angle of the trend, I drew the trendline and the resistance channel (blue), and finally I determined the support (red) and resistance (purple) levels.
Please support me with LIKE / COMMENT
DISCLAIMER: This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Trade active:
It couldnt break trendline and our magic trendline did great job
Comment:
⚔️ Bulls and Bears fighting inside our channel because this channel is so important for trend 🧨
😉You can't see the drawings in my analysis anywhere else.